Consumer Financial Asset Mapping Through Anonymized Postal Data
Find Innovative SolutionsGenerate Solutions
Solution Overview
Problem
Existing systems lack the capability to efficiently map and analyze consumer ownership of financial assets across geographic localities, hindering targeted financial product offerings and sales strategies.
Innovation Solution
A computer-implemented system that processes financial data from multiple entities, enriches it with address information, aggregates and anonymizes it, and links it to geographic locations, enabling precise mapping of asset ownership.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If financial data is processed in parallel by splitting into subparts, then processing speed and productivity are improved, but data integrity and consistency become more difficult to maintain
Solution Approach 1:
The patent divides financial data into multiple subparts for parallel processing, where each subpart contains a subset of financial records with associated geographic information. This segmentation enables simultaneous processing of different data portions while maintaining data integrity through consistent processing rules applied to each segment.
Solution Approach 2:
After parallel processing of data subparts, the patent merges the processed results into a unified geographic mapping structure. This combining step ensures data consistency by integrating all processed subparts into a single coherent view of financial asset ownership by geographic region.
2Measurement precision
If comprehensive financial data is collected from multiple entities, then measurement precision and completeness are improved, but data processing complexity increases
Solution Approach 1:
The patent introduces geographic information (postal codes, geographic localities) as an intermediary that bridges financial data from multiple entities with consumer ownership information. This intermediary enables accurate mapping and analysis while simplifying the integration of data from diverse sources through a common geographic framework.
Solution Approach 2:
The patent adds a geographic dimension to traditional financial data by incorporating postal codes and location information. This dimensional transformation enables precise mapping of asset ownership to geographic regions, improving measurement precision while providing a structured approach to handling multi-entity data.
3Measurement precision
If detailed address information is added to financial data, then geographic mapping precision is improved, but data processing time and resource requirements increase
Solution Approach 1:
The patent performs address enrichment and geographic code assignment as preliminary steps before the main analysis processing. By pre-processing address information and assigning geographic codes to financial records in advance, the system reduces processing time during the main analytical operations while maintaining high geographic mapping precision.
Data Source
AI summary
In some embodiments, the instant invention provides a programmed system that includes at least the following components: a computer programmed with software instructions that include: code to periodically receive financial data of a plurality of customers from a plurality of financial-related entities related to a plurality of financial assets, code to consolidate the financial data into a consolidated financial data; code to analyze the consolidated financial data with at least one address-matching program; code to associate each record of the consolidated financial data with a respective eleven digit postal code to result in an address-enriched consolidated financial data; code to anonymize the address-enriched consolidated financial data to form an anonymous address-enriched consolidated financial data; and code to link information of the anonymous address-enriched consolidated financial data across a plurality data relationship to form a consolidate household view for each respective eleven digit postal code.